Hong Kong's Securities and Futures Commission has successfully prosecuted Chiang Ching Fung for unlicensed dealing.

A Hong Kong court earlier this week convicted Chiang Ching Fung, the former chief executive of Gold Root Global Investments, of unlicensed dealing in futures contracts, a financial watchdog for the city-state said.

GRG Investments was last October convicted of dealing in futures contracts through its website between March and April 2013 without holding the required Securities and Futures Commission licence. 

Chiang, who managed the operations of GRG Investments, pleaded guilty to the charge of “aiding and abetting, counselling, procuring or inducing or consenting to or conniving in the commission of GRG Investments' offence of unlicensed dealing,” the SFC said in a statement.

The Eastern Magistrates' Court acquitted the former dealing director of the firm, Jacky Chan Cheuk Ki, of the same charge. 

The court fined Chiang HK$12,000 ($1,546) and placed a 12-month bind on Chan. This requires him to “keep the peace” for the set period of time, according to the SFC's statement. 

The pair were ordered to pay the costs of the SFC's investigation. 

The SFC in the fourth quarter of last year collected HK$9.8 million ($1.3 million) in fines and disciplined five institutions and 11 licensed representatives, which included JP Morgan, Deutsche Bank and HSBC, the regulator’s quarterly report showed.